Small Business I Income Tax Preparation Course
Online Course: ID# 1001102
Price: $459.00
Qty:
About This Course:
For Current Tax Preparers - 2024 edition (2023 tax law) with a free ungraded 2024 tax law update.
Practitioners who have a basic understanding in tax preparation can broaden their knowledge base by completing the Small Business I Tax course. This course is designed to educate practitioners about a variety of tax issues experienced by business entities.
This course is ideal for anyone looking to gain a basic understanding of small business tax issues. Being able to prepare Forms 1065 and 1120S for small businesses operating as pass-through entities brings more varied and lucrative work to the practitioner.
This course will enable preparers to be retained for both these pass-through returns and the corresponding personal returns of their owners. Like all ITS courses, this course is continuously updated with the latest IRS guidance and legislative changes to keep you informed of the latest tax laws. Some of the major topics covered in this course include:
- Business Entity Types - What is the difference between a Sole Proprietor, Partnership, C Corporation, and S Corporation? What are the advantages and disadvantages of these entity types?
- Business Income and Expenses - How are certain types of income and expenses reported and accounted for?
- Business Property - How is business property depreciated and how is this information reported on the tax return?
- Employment taxes - What forms must be filed for employment tax purposes?
Top FAQs
We recommend the
Comprehensive Income Tax Course. Accessible online in the comfort of your own home or office, it covers everything from the required forms to filing requirements.
Tax Preparers review their client's income and financial records such as W2s and dividend statements, then identify deductions and credits to determine the amount their client's owe or will be refunded.
Any tax professional with an IRS Preparer Tax Identification Number (PTIN) is authorized to prepare federal tax returns.
You will need an Electronic Filing Identification Number (EFIN) from the IRS. This gives your firm the ability to e-file tax returns, which is generally required of a firm that files 11 or more income tax returns.
Continuing Education Credits:
Click the 'Credits' tab above for information on PHR/SPHR, PDCs, and other CE credits offered by taking this course.
